Hats off to the Honourable PM for his very bold measures to kickstart the Economy.

Excellent package silencing all critics and giving the much needed boost to the economy to deliver and perform without any hindrance if any from bureaucrats and wrong doers who challenge the Governance standards and loot the economy through public and private Financial Institutions.It is time to restore the lost values and ethics and work for the Political economic social and technological development of the Country in a spirit of unity and see that the Vasudevaka Kudumbam is a reality in the years to come. Hope the reforms in the area of land, labour, law and Liquidity would be in place at the earliest and the inequality seen in the country gets gradually wiped out benefiting the people all around. Well done by the Government and now it is for the people to perform and show the abilities to excel everywhere to deliver and reach the Pinnacle of the world in the economic and social development.

Dr T V Gopalakrishnan

( This comment is given to Business Standard on the 13th May ).

Something is amiss somewhere.

The Concept  of bad bank only reflects very bad economics, worse politics and worst Governance practised in the Country without being able to develop good professionalism in running the banks , prevent the bad borrowers and perpetrators of frauds in banks. A very bad and definitely  avoidable precedence is being set by setting up a BAD BANK. It will prove to be an unmanageable moral hazard in the entire Financial System including the Payment and settlement system . All these could have been avoided had the interference of  corrupt politicians and corrupt  bureaucrats been kept away from banks, financial institutions and the Reserve Bank of India, the Regulator. Bad debts because of business failures on account of natural calamities is understandable and is part of the business risk, but bad debts intentionally designed to loot tax payers and depositors money through influential borrowing from banks, and facilitating frauds by allowing relaxed regulation and supervision by uncalled for intervention of politicians and  bureaucrats who are incompetent and susceptible to corruption in Banks and Financial Institutions Boards is something beyond any justification to weaken the much needed strong Financial System to take the economy and the Country forward. Weak legal system favouring bad borrowers and unimaginably poor Governance System pursued by weakening the regulatory and supervisory system in the guise of cost saving and better risk management in the system have been the cause behind the Financial systems' failure in giving the economy the kick start and the much needed economic growth. Sorry state of affairs indeed despite having the best of human resources, the Technology, and  the political stability the Country has.Something is amiss somewhere. 

T V G Krishnan          

Akshaya thrithiya Very auspicious day to do good to the society.

Akshaya Thrithiya is actually good for giving donations and do good to the society. This is the ideal time to those who accumulated wealth by all wrong means to declare their ill gotten wealth and come clean. Indians appetite for gold should come to an end and all gold reserves of the Country roughly estimated at around 25000 tonnes need to be monetised and used for the economic development and eliminating the ever increasing inequality and poverty. Time to Establish a Gold Bank and deploy the money for economic development aiming at eliminating poverty, unemployment, inequality and ensuring welfare for all everywhere. This is the ideal time to fix all problems seen in the economy in the form of corruption, contempt of laws by all and sundry even and loot of all institutions particularly banks and educational set up. Covid 19 is a blessing in disguise to restore the long lost values and our enviable culture and civilization.   

Dr T V Gopalakrishnan

Printing of Notes to mitigate Covid 19 consequences is not a sensible advice

The very thought of Printing Money as a solution to fight the COVID 19 and the economic crisis the Country is facing now comes out of thoughtlessness and cannot be thought of in the background of huge resources the Country has and its Rich Industrailists and all sorts of tax evaders that we have . Apart from the loot of banks, the Country's resources in the form of Gold and other Commodities if tapped properly and sensibly, the Economy can be put on the growth track without resorting to printing of monet and adding to inflation which is fortunately under control . This is the ideal time to insist on the looters of banks and tax evaders to come to the rescue of the Government to return the loans either in Cash or in kind in what ever form and clear the tax dues without exploiting the weaknesses of the legal system and procedure through unethical means and corrupt practices. The inflation is under control and resorting to too much of Deficit financing by printing notes can only invite disaster and definitely it is not a sensible advice. The need of the hour is to have sound economic policies backed by good governance and a very strong and expeditious legal system to do justice preventing the mismanagement of public Institutions and making them deliver the responsibilities entrusted to them in public interest .

Dr T V Gopalakrishnan

( This comment apperaed in Economic Times dated 31/03/2020 against the article Govt has no option but to print money and spend it to mitigate Covid 19).

Timely and most appropriate Decision of the PM to have a complete Lock Down.

 Majority of  the people who believe in the welfare of the humanity as a whole and aspire for  peaceful safe and healthy life have wholeheartedtedly welcomed this move however, hard it may be to sustain. There are always misfits and counterfeits in the society and they are incorrigible lots. Nothing can be done. Loka samastha Sukhino Bhavantu should always be the vision and mission of the Leader and the recent decision  to  eliminate the deadly virus threatening the life of  humanity as a whole  is very apt and timely. Nothing to regret and feel sorry. However, it has to be ensured that essential services to sustain the life need to be administratively ensured without the interruption of corrupt practices. All service providers need to be adequately sensitised, closely monitored and accountability fixed for planned lapses if any.. People are with you and this measure will bring the desired result. Good thoughts and deeds cannot be stopped by any evil forces. This has been proved time and again. 

Dr T V Gopalakrishnan

( This comment is given in response to the report on PM Modi's Manki Bath  that appeared in Business standard dated 29/03/2020)

Loot of banks get unimaginable support Instead of severe Punishment.

Never in the History of Banking in India had any bank been saved by RBI by providing so much of credit 60K Crore of Rupees as happened reportedly in the case of Yes Bank. It is only collapse of Governance and ethics of Public Finance to say the least. No lesson or signal to bad borrowers who loot systematically all public financial institutions at the cost of all stake holders of the Economy. Sorry state of affairs.As long as such loots continue , the Economy in general and the Financial system in particular cannot be expected to show any improvement reflecting on the poor image of the Government and RBI nationally and internationally. 

( This comment appeared in Business Standard against the write up on RBI Extends line of support to Yes Bank to the tune of Rs 60000K Crore. on 18/3/2020).

TVG Krishnan

No More Loot - Yes Bank Resolution Mechanism.

I watch with very keen interest your programme and the much needed campaign "No More Loot". The loot of Depositors, HONEST  tax payers, good borrowers, and gullible public  has been going on for decades in the  Financial System in general and  in the Banking System in particular  and this has been acknowledged by the authorities without any serious remedial action to stop the menace as there has been no mass movement or serious threat for reasons known to all with the result  the masses  eternally suffer, dishonest borrowers thrive and the economy remain stagnant with all resources at its command without much of use.    As an honest citizen and Professional Central bank Official I came out with a self Corrective mechanism to contain the problem of this open  and easy loot of banks  based on my Research in the years between 1998-2002  and well approved by the Examiners the Thesis brought out in the year 2004 and the Suggestion therein which was brought to the notice of then  FM, Governor of RBI and the public through seminars and debates in various forums involving Chairmen of Banks, Academicians, and  Researchers in the field of banking without any worthwhile result.   The Book 'Management of Non Performing Advances' brought out by Indian Institute of banking & Finance in the year 2004 based on the Ph D thesis had a Foreword from none other than by Dr C Rangarajan then Chairman Twelfth Finance Commission and former Governor of the Reserve Bank of India. The book inter-alia contained a very simple and highly practicable solution to make banks Viable and Efficient through prevention of entry of bad borrowers and liquidation of bad loans without penalising the depositors and innocent tax payers was conveniently ignored by the powers that be and the loot of Banks has been made a routine and regular habit killing the economy and keeping the masses to remain in perpetual poverty.  I bring this to your notice not for any personal gain but to intensify your campaign against the open loot and eradicate this from our banking system if possible so that the Financial  system which includes NBFCs and Large Corporates would become strong and help the Economy to grow faster and reach the target of $ 5 trillion as envisaged by our Honourable PM and make his dream  Vasudevaka Kudumbam a reality in the near future.  Kindly excuse me  for bringing this to your notice as I as a Senior Citizen and interested in the welfare of people thought the Republic TV can bring justice and order in the economy with the support of masses and right conduct in the matter of public affairs in general and public Finance in particular.       Dr TVG Krishnan 19/03/20 ( This letter was addressed to Republic TV in response to its Campaign No More Loot held in the context of Resolution brought in to save the YES bank from Collapse)